Intraday time for reversal can be at 9:15/12:23/1:02/2:08/2:53 How to Find and Trade Intraday Reversal Times
Bank Nifty Nov Future Open Interest Volume is at 22.7 lakh with liquidation of 1.1 Lakh contract , with increase in Cost of Carry suggesting Long positions were closed today.
Bank Nifty Rollover cost @ 41285 and Rollover is at 76.5 % Closed above it
Maximum Call open interest of 18 lakh contracts was seen at 42000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 12 lakh contracts was seen at 41500 strike, which will act as a crucial Support level.
MAX Pain is at 42000 and PCR @0.85 . PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.
During this phase of the rule-finding and the clean implementation of your Trading system you are faced with mental conflicts. That’s the hardest part of the Trading education to resolve “Mental Conflicts”.
For Positional Traders Trend Change Level is 41531 on Futures go long and short above/below it That will help you stay on the side of Institutions and which has a greater risk-reward ratio. For Intraday Traders 41633 will act as a Intraday Trend Change Level.